Parthenon buys $1,751,779 stake in Motorcar Parts of America (MPAA)

Motorcar Parts of America (MPAA) : Parthenon scooped up 7,700 additional shares in Motorcar Parts of America during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 61,966 shares of Motorcar Parts of America which is valued at $1,751,779.Motorcar Parts of America makes up approximately 0.43% of Parthenon’s portfolio.

Other Hedge Funds, Including , Kirr Marbach Co In reduced its stake in MPAA by selling 779 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 206,981 shares of MPAA which is valued at $5,851,353. Motorcar Parts of America makes up approx 1.18% of Kirr Marbach Co In’s portfolio. Simplex Trading added MPAA to its portfolio by purchasing 40 company shares during the most recent quarter which is valued at $1,087. Capstone Asset Management Co sold out all of its stake in MPAA during the most recent quarter. The investment firm sold 5,280 shares of MPAA which is valued $144,936. North Star Investment Management Corp. added MPAA to its portfolio by purchasing 34,950 company shares during the most recent quarter which is valued at $959,378. Motorcar Parts of America makes up approx 0.17% of North Star Investment Management Corp.’s portfolio.

Motorcar Parts of America opened for trading at $27.85 and hit $28.3 on the upside on Friday, eventually ending the session at $28.03, with a gain of 0.18% or 0.05 points. The heightened volatility saw the trading volume jump to 1,45,304 shares. Company has a market cap of $520 M.

On the company’s financial health, Motorcar Parts of America reported $0.50 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jun 14, 2016. Analyst had a consensus of $0.53. The company had revenue of $100.90 million for the quarter, compared to analysts expectations of $99.27 million. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.

Motorcar Parts of America Inc. (MPA) is a manufacturer remanufacturer and distributor of aftermarket automotive parts for import and domestic cars light trucks heavy duty agricultural and industrial applications. The Company sells its products in North America to auto parts retail and traditional warehouse chains and to automobile manufacturers for both their aftermarket programs and their warranty replacement programs (OES). The Company’s products include rotating electrical products such as alternators and starters; wheel hub assemblies and bearings and new brake master cylinders. Its products meet equipment manufacturer specifications. It carries over 10000 stock keeping units (SKUs) for automotive parts that are sold under its customers’ private label brand names and the Company’s Xtreme Reliance and other brand names. The Company sells its products to retail automotive chain stores including Advance AutoZone Genuine Parts (NAPA) O’Reilly and Pep Boys.

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